Goldman May Split Top Jobs
Created: 2012-03-29 15:20 EST
The Taj Mahal Palace Hotel is a landmark in Mumbai - it's also the venue for what an equally significant meeting. Senior executives from Goldman Sachs are holding their annual board meeting there - almost as far from Wall Street as you can get.
The investment bank hired the presidential suite and security was clearly paramount. Their rooms were sealed off to non-guests throughout Thursday morning. Goldman wasn't giving away any secrets to the media either. But some reports suggest the executives are considering splitting the roles of Chief Executive and Chairman. Both posts are currently held by Lloyd Blankfein.
Outside groups have long sought the separation - and two sources have told Reuters a split is now being considered internally too. They say Chief Operating Officer Gary Cohn could become the new CEO with J. Michael Evans as President. Blankfein would remain Chairman only.
The reports comes after a difficult period for the investment bank. A resigning London executive recently described the culture at Goldman as"toxic and destructive" The bank rejected the allegations.
The meeting is Goldman's first in India - where the market has proved tough for global investment banks.